Do law school loans qualify for forgiveness?
Asked by: Margarette Russel | Last update: January 21, 2026Score: 4.5/5 (59 votes)
Student loan forgiveness and repayment programs can erase some or all of your federal student loan debt for law school and possibly even private student loan debt. Income-driven repayment plans, while not specific to the law field, will cancel your remaining federal student loan debt after 10 to 25 years of repayment.
Can law school loans be forgiven?
Public Service Loan Forgiveness (PSLF) is a federal loan forgiveness program available to public-interest lawyers. That includes some public defenders, legal aid workers, and lawyers who work for the government or for eligible non-profits.
What type of student loan qualifies for forgiveness?
Public Service Loan Forgiveness (PSLF)
The PSLF Program forgives the remaining balance on your Direct Loans after you've made the equivalent of 120 qualifying monthly payments while working full time for a qualifying employer.
Are lawyers able to pay off student loans?
The ASLRP is an agency incentive program based on 5 U.S.C. § 5379 in which the Department agrees to repay certain types of Federal student loans as a recruitment or retention incentive for highly qualified attorneys in exchange for a service obligation of three years.
What loans don't qualify for forgiveness?
- Federal Family Education Loan (FFEL)
- Federal Perkins Loan.
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How do I know if my loan qualifies for forgiveness?
If you have loans that have been in repayment for more than 20 or 25 years, those loans may immediately qualify for forgiveness. Borrowers who have reached 20 or 25 years (240 or 300 months) worth of eligible payments for IDR forgiveness will see their loans forgiven as they reach these milestones.
Who no longer qualifies for loan forgiveness?
You must be a direct employee of a qualifying employer for your employment to qualify. This means that employees of contracted organizations, that are not themselves a qualifying employer, won't qualify for PSLF including government contractors and for-profit organizations.
How to pay off law school debt?
- Go for PSLF in a public interest law job.
- Use PAYE or REPAYE for a 20-25 year forgiveness strategy in the private sector.
- Aggressively pay back all your debt and become debt free as quickly as possible.
Are law students in debt?
Of lawyers surveyed by the American Bar Association (ABA), 85 percent borrowed money to cover their studies, with the average law school debt exceeding $100,000.
How much are lawyer student loans?
The average law student graduates with $130,000 in student loan debt, according to the American Bar Association (ABA). Additionally, many new lawyers end up with lower annual incomes than their total loan balances, which can make it difficult to repay the debt.
How to get 100% student loan forgiveness?
If you work full time for a government or nonprofit organization, you may qualify for forgiveness of the entire remaining balance of your Direct Loans after you've made 120 qualifying payments—i.e., at least 10 years of payments. To benefit from PSLF, you need to repay your federal student loans under an IDR plan.
Do student loans go away after 20 years?
Under certain federal programs, it's possible to get your student loans forgiven after 20 years of qualified payments. Private student loans, however, typically don't have forgiveness options, regardless of how long you pay them.
Who qualifies for debt forgiveness?
Debt forgiveness could help with credit cards, back taxes or student loans. But to qualify, you'll typically need to meet certain conditions. This might mean proving financial hardship or making a certain minimum number of payments on your debts. Some forgiveness programs will have stricter criteria than others.
How to graduate law school debt free?
- Save Money Before Attending Law School.
- Apply to In-State Public Law Schools.
- Perform Well in College and on Your Law School Entrance Exam.
- Find an Employer Who Will Subsidize Your Legal Education.
- Apply to Law School Only When You're Ready.
- Apply for Multiple Scholarship Programs.
What is the Harvard Law School loan forgiveness program?
The HLS Public Service Loan Forgiveness (PSLF)-based plan (referred to as “the Plan”) reduces the loan repayment burden for graduates in full-time public sector jobs, which qualify under federal guidelines, such as those in the government, non-profit, and academic industries.
Which student loans can be forgiven?
What loans can be forgiven? Only Direct Loan Program loans that are not in default are eligible for PSLF and TEPSLF. Loans you received under the Federal Family Education Loan (FFEL) Program, the Federal Perkins Loan (Perkins Loan) Program, or any other student loan program are not eligible for PSLF.
Is law school worth it financially?
Earn More Money Over Your Lifetime
Starting salaries may dissuade you from investing in law school. Nevertheless, research shows that "law degree holders' earnings grow rapidly and peak late in life," suggesting better financial outcomes than forgoing a JD degree.
How to not pay for law school?
The best way to attend law school with no money is to apply for scholarships or make yourself a prime candidate to be offered scholarships. Low-ranking schools tend to give out higher-value scholarships more frequently.
What is the dropout rate for law school?
The decision to attend law school shouldn't just be financially driven. You'll also want to consider the high dropout rates of law school, particularly among minorities. Overall, dropout rates are over 6% for first-year students. For American Indian, Hawaiian native, and Black students, the dropout rate is 11% to 13%.
How do you pay for law school if you're poor?
Financial aid can cover the FULL COST of attendance established by the school you attend, if needed. IF YOU NEED TO BORROW loans for this important investment in your future, the flexibility and safety of the federal student loan programs lets you afford repayment of any federal loans you borrow, regardless of career.
What happens if you can't pay school debt?
Your wages may be garnished. This means your employer may be required to withhold a portion of your pay and send it to your loan holder to repay your defaulted loan. You can no longer receive deferment or forbearance, and you lose eligibility for other benefits, such as the ability to choose a repayment plan.
What loans are excluded from forgiveness?
The program is for federal direct loans only. That means your loan must be either a subsidized or unsubsidized loan under the direct loan program. Although certain loans are excluded, like Perkins and Federal Family Education Loans, you may be able to consolidate these early in the process to benefit from the program.
What happens to student loans without the Department of Education?
1 If the Education Department was shut down, then the management of federal student loans and other programs could fall to different government departments or even a government corporation. If the latter came to pass, it could also mean that certain borrower protections would cease to exist.
Who approved the student loan forgiveness?
The Biden-Harris Administration today announced its final round of student loan forgiveness, approving more than $600 million for 4,550 borrowers through the Income-Based Repayment (IBR) Plan and 4,100 individual borrower defense approvals.